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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
STIR FUTURES
- With US cash markets close for Independence Day, FOMC-dated Fed Funds futures have ground higher after Friday’s V-shaped lurch on growth fears that had been exacerbated by the ISM manufacturing miss.
- A modest firming leaves July pricing well within last week’s range at 70bps. There have been larger gains on the day beyond July, but they sit lower compared to the recent range with 123bps (+2bp) for Sep and 177bp (+4bp) to year-end.
- The peak in rates in 2023 has been pulled forward from March into the early Feb meeting at 3.41% (183bp of hikes) with 63bps of cuts then priced to end-2023.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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